Sonoco has acquired Clear Lam Packaging in a $170m (£133m) deal to expand its flexible packaging arm.
Illionis-based Clear Lam Packaging develops and manufactures flexible and rigid packaging materials for food and non food applications including fresh and processed foods, personal health care products, electronics, household products and industrial products.
With a workforce of around 400 staff, the company has manufacturing plants in Elk Grove Village, Illionis, US, and Nanjing, China.
Sonoco provides several consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services.
The company employs 20,000 people who work in over 300 operations in 33 countries, with headquarters in South Carolina.
Clear Lam is expected to generate sales of $140m in 2017. It produces a range of multi-layer printed films and rigid roll-stock products for consumer packaged goods firms, retailers and other industrial manufacturers.
Jack Sanders, Sonoco president and chief executive, said: “The addition of Clear Lam will significantly expand our Flexible Packaging and Thermoforming Plastics operations as we will be able to develop, produce and convert high barrier flexible and forming film structures to package fresh and prepared food products purchased in the growing store perimeter.
“As an example, Clear Lam complements our recent acquisition of Peninsula Packaging’s thermoforming operations by being able to produce barrier flexible film lidding that extends shelf life, is resealable and provides a complete packaging solution to our fresh fruit and vegetable customers.”
Source:https://www.packagingnews.co.uk/news/materials/flexible-plastics/sonoco-swoops-clear-lam-packaging-170m-27-06-2017
